10K says, oddly, more capital raising will happen
Post# of 15624
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Posted On: 04/19/2017 10:22:54 PM
10K says, oddly, more capital raising will happen before Q3 of 2017 (page 41):
"Based upon our cash position of $472,282 at December 31, 2016, we believe that we will need to raise additional capital, either equity or debt during the first half of fiscal year 2017 to fund our plan of operations including our research and development initiatives for the next twelve months. We raised during the first quarter of 2017 $1,752,716 through proceeds from issuance of 4,537,954 shares of common stock. There can be no assurance, however, that additional capital will be sufficient to fund our currently anticipated expenditure requirements for the next twelve-month period nor can there be any assurance that financing will be available at satisfactory terms and conditions or at all, for that matter."
Was hoping that the $1.7M they just raised would be enough for the year. Not sure why they need to raise the money now as opposed to Q3 or Q4, I guess that means the $1.7M is already earmarked.
"Based upon our cash position of $472,282 at December 31, 2016, we believe that we will need to raise additional capital, either equity or debt during the first half of fiscal year 2017 to fund our plan of operations including our research and development initiatives for the next twelve months. We raised during the first quarter of 2017 $1,752,716 through proceeds from issuance of 4,537,954 shares of common stock. There can be no assurance, however, that additional capital will be sufficient to fund our currently anticipated expenditure requirements for the next twelve-month period nor can there be any assurance that financing will be available at satisfactory terms and conditions or at all, for that matter."
Was hoping that the $1.7M they just raised would be enough for the year. Not sure why they need to raise the money now as opposed to Q3 or Q4, I guess that means the $1.7M is already earmarked.
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